Poverty Reduction in the New Asia and Pacific: Key Challenges of Inclusive Growth for the Asian Development Bank
Walton, Michael | November 2007
Abstract
The international Forum on “Inclusive Growth and Poverty Reduction in the New Asia and Pacific” was held in Manila on 8–9 October 2007. The forum’s overall conclusion was that there is a pressing need for transformation within the Asian Development Bank (ADB) and better alignment of inclusive growth as strategic goal with the operational activities and internal capabilities so that the institution can continue to play an important role in supporting Asia’s socioeconomic development. The conference is of strategic importance for ADB’s new longterm strategic framework discussions. This paper summarizes the strategic discussion as highlighted in the keynote address by Michael Walton. It argues that growth needs to be inclusive to be sustainable and to be accepted by the population. The Asia and Pacific region, with its rising inequalities, has somewhat lost the inclusive growth path of its past. This gives new opportunities for ADB as the regional development bank to bundle knowledge and finance in areas where both the governments and markets fail. In poorer countries, this will often involve continued support to central governments in the provision of infrastructure and social services. In emerging market countries, this will increasingly involve a mix of financial and knowledge-related services that tackle the more complex challenges of inclusion of lagging regions or groups in both social and economic development, developing comprehensive mechanisms for managing security, financial inclusion, and the management of environmental concerns. However, to remain relevant for the region, ADB urgently needs to transform itself quickly to better align the strategic development goal of poverty reduction through making growth inclusive with its internal capacities.
Citation
Walton, Michael. 2007. Poverty Reduction in the New Asia and Pacific: Key Challenges of Inclusive Growth for the Asian Development Bank. © Asian Development Bank. http://hdl.handle.net/11540/1760. License: CC BY 3.0 IGO.Print ISBN
978-971-561-647-8
Keywords
Alleviating Poverty
Anti-Poverty
Extreme Poverty
Fight Against Poverty
Global Poverty
Health Aspects Of Poverty
Indicators Of Poverty
Participatory Poverty Assessment
Poverty Eradication
Poverty Analysis
Poverty In Developing Countries
Poverty Reduction Efforts
Urban Poverty
Development Indicators
Environmental Indicators
Economic Indicators
Educational Indicators
Demographic Indicators
Health Indicators
Disadvantaged Groups
Low Income Groups
Socially Disadvantaged Children
Rural Conditions
Rural Development
Social Conditions
Urban Development
Urban Sociology
Poor
Economic forecasting
Health expectancy
Social groups
Political participation
Distribution of income
Inequality of income
Developing countries
Rural community development
Mass society
Social change
Social policy
Social stability
Population
Sustainable development
Peasantry
Urban policy
Urban renewal
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Citable URI
http://hdl.handle.net/11540/1760Metadata
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